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    Property profile & analytics

    1985 Folly Rd Charleston, SC 29412

    • Retail space
    • 46,769 SF
    • 9.64 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0619852
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pan Garden / Chinese Restaurant
    • Harris Teeter Money Services / Money Transfer Service / Money Order Service
    • First National Bank ATM / Atm
    • Western Union / Money Transfer Service
    • PNC Bank ATM / Atm

    Property Details for 1985 Folly Rd

    Year built
    2005
    Lot size
    9.64 lot acres
    Property size
    46,769 SF
    Property type
    Retail space
    APN
    331-06-00-007
    APU
    3310600007

    Description

    Folly Road Crossing, a vibrant retail center in Charleston County, offers exceptional opportunities for businesses seeking high-traffic locations. Recently expanded and renovated, this center boasts 53,994 square feet of retail space, divided into ten suites. The property is ideally situated near the popular Folly Beach resort area, ensuring consistent foot traffic and a strong customer base. Current occupancy includes a diverse mix of tenants, creating a synergistic environment. One retail space is currently available, ranging in size from 1 to 1,240 square feet, providing flexibility for various business needs. The center's strategic location on James Island, coupled with its proximity to Folly Beach, guarantees exposure to a large and loyal customer base. Average customer visit frequency is a remarkable 2.59 visits per person, demonstrating the center's strong appeal and repeat business. This presents a unique chance to establish or expand your business within a thriving retail environment. The property's recent upgrades ensure a modern and attractive setting for tenants and customers alike. Interested parties are encouraged to inquire about the available space and explore the possibilities of becoming part of this successful retail center. The property is classified as multi-tenant retail and restaurant space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.9612
    Latitude
    32.6861
    CBSA code
    16700
    CBSA name
    CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $150,368
    $0.00
    $0.00
    $543,460
    -
    $5,900,000
    $3,700,000
    $9,600,000

    Comparable in this City

    • Value Estimation by Request
      31,190 SF

      915 Folly Rd

      RETAIL STORES (PERSONAL SERVICES) • 31,190 SF
      915 Folly Rd, Charleston, SC 29412-3907
      View Details
    • Value Estimation by Request
      122,930 SF

      1231 Folly Rd

      RETAIL STORES (PERSONAL SERVICES) • 122,930 SF
      1231 Folly Rd, Charleston, SC 29412-4105
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    • Value Estimation by Request
      119,883 SF

      770 Daniel Ellis Dr

      RETAIL STORES (PERSONAL SERVICES) • 119,883 SF
      770 Daniel Ellis Dr, Charleston, SC 29412-3034
      View Details
    • Value Estimation by Request
      3,083 SF

      1956 Maybank Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,083 SF
      1956 Maybank Hwy, Charleston, SC 29412-2126
      View Details
    • Value Estimation by Request
      54,760 SF

      1411 Folly Rd

      RETAIL STORES (PERSONAL SERVICES) • 54,760 SF
      1411 Folly Rd, Charleston, SC 29412-9562
      View Details
    • Value Estimation by Request
      79,962 SF

      520 Folly Rd, Unit 25168

      RETAIL STORES (PERSONAL SERVICES) • 79,962 SF
      520 Folly Rd, Charleston, SC 29412-3019
      View Details

    Similar Nearby for Sale

    • $397,000

      James Island Commercial Lot For Sale

      Commercial lot in a high-traffic area, ideal for development.
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    • $300,000
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      James Island Investment Property

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      James Island Land For Sale

      5.77 acre land parcel in James Island, South Carolina.
      Scott Hill Rd, Charleston, SC 29412
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    • $3,500,000
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      Waterfront Lot in Charleston

      1.5-acre waterfront lot in Riverland Terrace neighborhood.
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    Similar Nearby for Lease

    • Contact for pricing

      Riverland Terrace Retail Opportunity

      Retail space in high-traffic area near downtown Charleston.
      2040 Maybank Hwy, Charleston, SC 29412
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    • $26 SF/Yr
      640 SF

      Retail Space on Folly Road

      Retail space for lease in a high-traffic shopping center.
      915 Folly Rd, Charleston, SC 29412
      View Details
    • $38 SF/Yr
      90,993 SF

      James Island Retail Space Available

      High-traffic retail space in Charleston, SC.
      1739 Maybank Hwy, Charleston, SC 29412
      View Details
    • Contact for pricing
      2,300 SF

      Restaurant or Retail Space Available

      Restaurant or retail property with planned improvements and high visibility.
      1978 Maybank Hwy, Charleston, SC 29412
      View Details
    • Contact for pricing
      39,730 SF

      Island plaza

      Retail properties • 39,730 SF
      1291 Folly Rd, Charleston, SC 29412
      View Details
    • Contact for pricing
      53,994 SF

      Folly Road Crossing Retail Center

      Prime James Island Retail Space Available
      1985 Folly Rd, Charleston, SC 29412
      View Details
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    Charleston, SC 29412
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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